Member Info for cperkin

I got the Cheese straws ready for the 10p party Mousey ;)

Don't tell em Pike ;)

6 working days..

As I understand it, all options are on the table, either way with the UKOG shares the drill costs can be covered with the £5 million from there sale.

Sorry, I should have mentioned that the $15 million includes 3D seismic over the Ruvuma basin for further appraisal/development wells and the 33KM pipeline to the gas processing plant.

The full costs are broken down by the AEX CEO in the interview below.

https://www.youtube.com/watch?v=cntSwqspHDQ

Hi OW, the total all in cost of the drill is expected to be $3.5 million (note US $) to SOLO this includes bills that would come in in 2019 after initial drilling.


They could wait to Farmdown, the could farm down before or not at all. The total cost to move the 3 wells to productiion is only $15 million and that includes the $3.5 million to drill CH-1. First full year earnings are expected to be $12 milion @ 40 million scuffs.

So farmdown or fund, the BOD did mention bank financing, but all TBC

KN-1 remediation due, EGM date and circular due to close the Ruvuma deal and with 5 rig tenders received CH-1 spud date due.

Buses

Yes I agree about Tanzania to an extent olderandwiser & in fact I believe this has been one of the issues for the old operator, Aminex.

A key element here is the relationship between Oman, the Zubairs and Tanzania. The Omani's are investing heavily in the country and also need gas for the new factories they are building (example a massive fertilizer factory) The Omani's have positioned themselves to supply the gas for the investments in their own projects whilst at the same time having strong relationships at all levels with the Government, including several royal delegation visits of late.

All at a time when the country is connecting Factories, businesses, converting buses and homes to gas on the promise of Magufuli and all as the forecast gas demand outstrips current well supply at some point next year.

As for UKOG, completely sentiment driven and I refuse to attempt to guess any SP or Market cap over there!

DYOR of course.

Actualy both are true Older, the asset stalled during the O&G sector collapse with 4 years between the NT-1 drill and the NT-2 drill in 2016. However the Omani's have since purchased almost 30% of Aminex and now are in the process of buying 50% of their flagship asset - Ruvuma, leaving the Omanis with 50%, Aminex with 25% and Solo with 25%

The development plan can be found in the link below and the new operator will be the Omani Zubair corp.

http://admin.aminex-plc.com/uploadfiles/180717_Ruvuma%20Farmout%20July%202018%20Presentation%20Secured.pdf

Sorry typo $105 million that should read.

I agree EB, the $20 million per TCF Aminex deal was low ball imo but with no KN-1 gas Aminex found themselves on the bad end of the negotiating table. In addition with the Arabs now committing $205 million to the project and a full field development plan you can easily argue that the asset is worth more now than when the deal was negotiated.

Looking forward to the spud and the first 2 high COS zones before the low COS 3rd.

🥔🥔

Hi Phillo, I just did a dummy trade and the real BID is 2.3p thats what I was offered, so the MM's are cloak and daggers here again, so probably a sell?

That £67K was the one holding it back.

lol GL he only took 6 days, the last one was a rest day for Gin shopping and consumption;)

Next 7 working days

395,000 shares waiting on the book @ 2.41

Any old excuse for a party Barking ;)

Dummy trade, seems the mm's are very happy to take quite large amounts of stock in one lump @ multiples of market size.

"pressure at the Kiliwani North-1 well has continued to build up and the Company has commenced remediation work on the well. The Company initially plans to repair a faulty valve during the current quarter, which is expected to allow for gas to flow from the well"